Mag7 Tech Stocks - Ed.5
We have been uno reversed.
Weekly close - update #5
What to expect on Monday’s open?
Roundhill Magnificent Seven ETF (MAGS)
Most stock prices from the Magnificent Seven have been on a rise so far. Everything seems to have found a temporary bottom and MAGS etf is currently entering resistance zone, a critical level that must be strongly broken above $46 or we might have a retrace across the board.
Tesla (TSLA) -Bullish
Short term trade setup continues, we’re at 10% profit so far ✅
Stops should be re-adjusted at break even at the least. We are targeting the highs $220’s - low $230’s. From there we will reassess upon price action. Wouldn’t hurt to take a small profit at market price.
For any bystanders, any retrace toward low $200’s might be a good long entry for a swing trade although ideally we do not want price sweeping those lows again.
Microsoft (MSFT) - Bullish
LONG play continues, we’re 5% up here. ✅
Wouldn’t hurt taking some profit either and re-adjusting stops at break even. Any retrace towards low $400’s is a buy.
Meta Platforms (META) - Bullish
Stock has been moving up quickly and trying to move higher.
Any retrace toward $500 - $480’s is a buy.
Nvidia (NVDA) - Bullish
Super strong move so far. This has completely reversed and is now bullish again. Any retrace back to sub $110 is a buy.
Apple (AAPL) - Bullish
Completely reversed to the upside as well.
Any retrace as close as possible to $215 is a buy.
Amazon.com (AMZN) - Bearish
The lagging 7, nothing has changed here. It is slowly moving up compared to the others. No trade setups for now.
Alphabet (GOOGL) - Bearish
And the BEST-WORST performance award goes to Google. Seems to have found a temporary bottom but only time will tell. For now, NO TRADE.
Five out of the seven mag7 stocks performed excellent which is great but do take into account we are entering resistance on most of them and a short retrace could be on its way. Overall looking bullish, the panic selling is over. Have a great weekend and see you all next week!
Previous report here:
Luis Ricardo Guizado
Disclaimer
Not financial or tax advice. Zelf Trade is not a financial institution. No content on this Newsletter is financial, accounting, legal or tax advice. Zelf Trade content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
